Author: Ogochukwu Ndubuisi

China, UK to Launch Research Centre in Awka The Chartered Institute of Educational Practitioners, United Kingdom (CIEPUK), says it will launch a Global Southern Studies/Research Centre (GSSRC) at Paul University, Awka, in partnership with Soochow University, China. The unveiling of the centre is scheduled for Oct. 17 at the Nwawka Auditorium, Paul University. According to CIEPUK, the centre aims to enhance academic collaboration, innovation, and sustainable development across the Global South. It will also serve as a hub for research, knowledge exchange, and international partnerships. CIEPUK’s African regional office is located at Paul University, where the centre will be based.…

Naira Exposes US Dollar Funds, Investment to Fluctuation Risk With a positive outlook on the Nigerian naira in 2025, sustained exchange rate appreciation has exposed dollar funds to fluctuation risk, MarketForces Africa gathered from investment banking sources. Structured US dollar investments with fixed interest rates would be worth less than anticipated due to the recent naira gaining streaks, some analysts explained. However, they noted that investors are safe if they have no intention to convert their foreign currency-denominated dollar account to local currency. To protect wealth from exposure to naira volatility and inflation pressures, investment banking firms had launched a…

Domestic Gas Key to Nigeria’s Prosperity, Seplat Energy Says Seplat Energy Plc has reaffirmed that domestic gas remains the engine of prosperity for Nigeria and Africa, driving homes, industries, and cleaner transport alternatives. The company said this on Sunday in Lagos in a statement by its Corporate Communications Manager, Mr Stanley Okpara. It highlighted its continuous investment in gas processing infrastructure for Nigeria’s domestic market. Seplat said this includes the ANOH Gas Processing Plant, expected to commence operations before the end of the year. Its Director of New Energy, Mr Okechukwu Mba, disclosed this during a panel session at the…

CBN, SEC, PenCom Fine Stanbic IBTC N113m for Compliance Failures The Central Bank of Nigeria (CBN) slammed N56 million on Stanbic IBTC Bank Limited for failure to report a cyber episode that lasted for six days, according to a disclosure in its audited financial statement. The group faced a series of penalties due to compliance failure, including wrong disclosure, a review of the first half of 2025 audited report shows. Stanbic IBTC was also fined a huge amount for failure to follow an acceptable fixed income asset valuation method, which has the ability to overstate or understate profitability in the…

Large Deficit in Gabon Budget to Make IMF Funding Support Difficult The very large fiscal deficit presented in Gabon’s budget for 2026 will make it difficult for the country to secure funding support through a new IMF programme, Fitch Ratings believes. In its commentary note, Fitch said the authorities’ plans for a steep increase in capital spending are unrealistic and will be prevented by financing constraints, meaning that the deficit will be much smaller than the 15% of gross domestic product (GDP) budgeted. The council of ministers in early September approved the 2026 draft budget that plans a near-doubling in…

Naira Falls to N1465 as Dollar Demand Increases in FX Market The naira fell to N1465 per US dollar at the Nigerian foreign exchange market as demand for foreign currency increased above the supply side on Friday. Based on a slew of analysts’ projections, the outlook for the naira remains positive despite spot rate fluctuation. The Apex Bank FX intervention and hot money from foreign investors seeking to bet on naira assets keep the outlook strong amidst rising external reserves. The naira has seen significant gain that has triggered some bullish predictions for the year. The spot FX rate settled…

South-West Won’t Abandon Tinubu in 2027 —APC The All Progressives Congress (APC) in Lagos State says South West will not abandon President Bola Tinubu in 2027. The APC Spokesman, Mr Seye Oladejo, in a statement on Saturday in Lagos was reacting to a comment credited to supporters of a PDP presidential aspirant, Dr Gbenga Olawepo-Hashim, that the South West would not re-elect Tinubu in 2027. Oladejo said that Olawepo-Hashim had never built a durable political structure nor demonstrated the electoral muscle required to win a national contest. According to him, Tinubu will crush all gang up against his reelection in…

BPSR Unveils 2025 Transparency Integrity Index The Bureau of Public Service Reforms (BPSR) has launched the 2025 Transparency and Integrity Index (TII), as announced in a statement by Mr Aliyu Umar, Head of Strategic Communications at BPSR, in Abuja on Saturday. Mr Dasuki Arabi, the Director-General, BPSR, in his address described the Index as a vital tool for strengthening accountability, openness, and ethical standards across Ministries, Departments, and Agencies (MDAs). ‎“This annual event remains one of the most important platforms for promoting transparency, accountability, and integrity within our public institutions. “The TII is not just about numbers or rankings; it…

Nigerian Exchange Index Surges, Equities Investors Gain N384bn The Nigerian Exchange (NGX) All-share index surged on Friday over sustained positive momentum. Due to bargain hunting investors gained N384 billion as mid and large capitalised stocks rallied. Specifically, the market capitalisation, which opened at N90.751 trillion, rose by 0.42 per cent or N384 billion to close at N91.135 trillion. Similarly, the All-Share Index gained 604.58 points or 0.42 per cent, to settle at 143,584.04, compared with 142,979.46 posted on Thursday. The market breadth closed positive with 39 gainers against 25 losers. UAC of Nigeria led the gainers’ table by 10 per…

Renaissance Seeks Partners to Unlock Nigeria’s Oil, Gas Potential Renaissance Africa Energy – a consortium of five energy companies – has announced it is seeking partners to help grow its portfolio and drive oil and gas development in Nigeria. The announcement was made by Tony Attah, Managing Director and CEO of Renaissance Africa Energy during a briefing at African Energy Week (AEW): Invest in African Energies 2025. “We are born in Nigeria and made for Africa,” Attah stated, adding, “We strive to be Africa’s leading energy company, enabling energy security and industrialization in a sustainable manner.” During the presentation, Attah…